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Soladigm: more funds for innovative glass research and development

Smart glass company US-based Soladigm, a manufactured of smart“ glass, has reportedly raised an additional USD 10 million in equity financing on top of its previously announced USD 30 million third-r…

Smart glass company US-based Soladigm, a manufactured of smart“ glass, has reportedly raised an additional USD 10 million in equity financing on top of its previously announced USD 30 million third-round funding. New investors for the company are The Westly Group and Navitas Capital for the oversubscribed round, which was led DBL Investors and Nano Dimension and included investment from GE, Khosla Ventures and Sigma Partners. Soladigm is a manufacturer of electrochromics glass that automatically adjusts tint, therefore reducing visual glare and cutting cooling and heating costs for commercial buildings. According to the company, its windows can reduce heating and cooling usage by 25% and peak load by 30% in commercial buildings. In 2010, the company announced a total of USD 60 million in financing, along with a strategic partnership with GE, after being named one of the winners in its Ecoimagination challenge and opening a manufacturing facility, with plans to commercialize its product in the first quarter of 2012. Others companies are also starting to enter the tinted glass sector. For example, Saint-Gobain invested USD 80 million in Sage, a smart glass company with a USD 72 million conditional loan guarantee from the government for manufacturing facility in Minnesota in 2010.

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